Question

Which among the four factors of production you consider the most important factor ? why?

Answer 1

QUESTION

Which among the four factors of production you consider the most important factor ? why?

Answer

The most important factor of production is human capital .

it is the most important factor because of knowledge and enterprise human factor is able to use all other capitals .

It is the most important factor of production bracause it has the ability of reasoning power and naturally gifted power of performing physical task .

Answer 2

Explanation:

Land - Land is known as fundamental factor for the production.In this factor ,we used other natural resources such as water,forest,minerals with lands.

Labour - The people who do work considered as labour.

Physical Capital - The variety of inputs which we need during production is known as physical capital.

Human Capital- It refers to the knowledge and interprises which can be able to put together other factors of production for the production activities.